MARKET WRAP: Rand weakens, extends losses
Currency weakens as much as 1.3% on scepticism of new national executive
02 July 2024 - 19:18
The rand touched its weakest level in almost three weeks on Tuesday, as scepticism over President Ramaphosa’s new national executive under the government of national unity (GNU) weighed on sentiment.
The local currency weakened as much as 1.3% as the GNU remained a fragile agreement, “with investors concerned over the many obstacles that need to be overcome going forward”, TreasuryONE currency strategist Andre Cilliers said...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.